The Equipment Leasing Q

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NickName:

Nick Millon

Title:

Associate Director, Business Development

Office nickname (if applicable):

Millionaire

Where are you from, originally?

Lexington, MA

How did you find LeaseQ?

I was looking to get in the fin tech space, and I came across LeaseQ on Angel List. I applied, got an interview, and the rest is history.

What do you like most about working at LeaseQ?

Hands down the company culture. New ideas are encouraged, and management gives us an opportunity to make an impact, if you’re willing to put in the time.

What’s your dream deal for LeaseQ?

Financing Anna’s Tacqueria eventual expansion.

What apps/tech/tools do you use on a daily basis?

Reddit Mobile, One Football, Spotify, and Instagram are the Mt. Rushmore of apps I use.

Any (other) work or life hacks you’d like to share?

Practice mindfulness at least once a day, it’ll change your life.

Favorite movie ever (independent of IMDB ratings):

Interstellar

Favorite activities when you’re outside the office?

Golfing, Video Games, Hiking

Fill in the Blank: I’d love to see my coworker Brett Rondeau answer these questions.

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This month’s installment of #BehindYourBusiness takes on office spaces and the lighting necessary to create a habitable and productive work space.

A significant amount of equipment goes into an office space, but we’ll start with the lighting system. Lighting systems are a costly expense, not only in upfront purchase price but in installation fees and a long-term maintenance plan. LED lighting is becoming a popular alternative to traditional lighting equipment due to its energy efficiency and cost savings over time, but carries an even steeper price tag.

When looking to secure LED lighting for an office space, companies have the option to purchase equipment outright or use financing methods, such as equipment financing. Equipment financing is a savvy and smart way for companies to secure the LED lighting equipment they need and set themselves up for significant ROI in the future.

Interested in learning more about the benefits of financing LED lighting for anything from an office space to a gas station? Give us a call: (888) 688-4519.

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Automated Buildings editor, Ken Sinclair, published a Q&A with Matt Worth in July discussing equipment financing options for building controls. Matt is the VP & GM at Noesis, a LeaseQ company, where he works with sales leadership at equipment vendors that are adopting financing programs for the first time and assists in incorporating new solutions into their sales processes.

In response to Ken’s question about the role of equipment financing in the commercial building equipment industry, Matt said:

When owners are forced to replace failing building equipment, it is commonly seen as a necessary evil that will consume capital budget that was earmarked for something else.  Equipment financing can alter that calculus. Building owners no longer have to settle for the lowest cost, “like for like” replacement equipment. They can use equipment financing to acquire more expensive but more efficient equipment that will save them money and provide them return on their investment. In that light, equipment replacements are transformed from a dreaded sunk cost to a cash flow generating investment. 

To read the entirety of Matt and Ken’s Q&A and learn more about the benefits of equipment financing for the building industry, please visit: http://automatedbuildings.com/news/jul17/interviews/170627104505worth.html

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Henry NeelsName:

Henry Neels

Title:

Software Engineer

Office nickname (if applicable):

H-Bomb

Where are you from, originally?

Melrose, MA

How did you find LeaseQ?

After doing some contract development work, I came across the opportunity at LeaseQ through a former colleague. I was eager to join as an intern upon hearing about LQ’s marketplace concept, and went full-time shortly thereafter.

What do you like most about working at LeaseQ?

When the product team needs us to add a new feature, the design and implementation process is fast-paced and collaborative. So, I get to touch every aspect of our systems, and contribute to the overall direction of the product.

What’s your dream deal for LeaseQ?

As important as one deal can be, I would like to see us as the first thought in financing for every franchise location and truck dealership in the country.

What apps/tech/tools do you use on a daily basis?

AWS, Ansible, Pro Tools.

Any (other) work or life hacks you’d like to share?

Don’t skip sleep – your brain needs it to function.

Favorite movie ever (independent of IMDB ratings):

Touch of Evil or Crouching Tiger, Hidden Dragon.

Favorite activities when you’re outside the office?

Ping Pong, Project Electronics.

Fill in the Blank: I’d love to see my coworker Nick Millon answer these questions.

 

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This month on #BehindYourBusiness, we focus on an enormously popular craft beverage – the sour beer. Sour brews have gained rapid popularity in recent years due to their impactful complexity, unique taste and edgy flavor combinations. Our borrower, Prestige Brewing, is taking advantage of the sour beer craze with its delicious and award-winning lemon-basil sour beer.

Brewers must have the following equipment to produce beer: kegs, boilers, kettles, cooling systems, fermentation tanks, storage tanks, filters, piping and tubing, cleaning equipment, refrigeration equipment, tap handles and waste treatment systems. To create a sour beer, brewers will require additional fermentation tanks, kettles and tubing to avoid contamination when switching back to brewing traditional brews.

Sour beers may take a bit more preparation, but the results are well worth it. What is the best sour beer you’ve ever tasted? Tell us in the comments! If you’re thinking of opening your own brewery, give us a call to learn how to get the equipment you need.

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The_Martian_BookCoverAP reporter, Joyce Rosenberg, recently asked small business owners the question: What books have you read that have been most helpful in running your company? LeaseQ CEO and founder, Vernon Tirey, responded with Andy Weir’s The Martian.

Vernon recommends Weir’s novel to small business owners because:

“It makes you think about who you’ve got in your corner, who you can depend on when things get tight — if there are changes in your industry, who’s going to sit down, not get panicky and get things done.”

His unique and compelling book choice landed him inclusion in the AP article along with recommendations from other small business leaders across industries. To read the entirety of Vernon’s thoughts on The Martian and the rest of the featured book recommendations, please visit: https://apnews.com/4ce31c749c844169ac71612f881d1bb3/Harry-Potter,-Abe-Lincoln-books-on-owners’-reading-lists

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Gary FinneganName:

Gary Finnegan

Title:

Associate Director Business Development, Transportation

Where are you from, originally?

Scituate, MA

How did you find LeaseQ?

I found LeaseQ while searching for careers in the fintech industry.

What do you like most about working at LeaseQ?

I like sitting in the best seat in the office

Any favorite lender/borrower stories worth sharing?

T & M Towing and Snowplowing Inc. It was our first opportunity with Twin Cities Wrecker Sales. The deal was a success and the dealership continues to be one of our most successful relationships.

What’s your dream deal for LeaseQ?

10+ fleet deal with a national transportation carrier

What apps/tech/tools do you use on a daily basis?

Yahoo Sportacular

Any (other) work or life hacks you’d like to share?

Put your alarm clock in a place where you need to get up to shut it off.

Favorite movie ever (independent of IMDB ratings):

Super Troopers

Favorite activities when you’re outside the office?

Golfing

Fill in the Blank: I’d love to see my coworker Henry Neels answer these questions.

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With Father’s Day this weekend, we wanted to focus this month’s installment of #BehindYourBusiness on greeting cards. A multitude of steps are involved in bringing Father’s Day cards to store shelves, but the purposes of this post we will be discussing printing equipment.

Without printing equipment, card companies could not make a tangible product out of their designs. The type of printing equipment needed depends on the number of cards being created, but all companies, from local shops to corporations, will require similar pieces of machinery. For example, a digital press, feeder, jogger, paper cutter, sheet-fed press and web press may be needed to successfully print quality greeting cards. Equipment is an essential part of the greeting card process to continue bringing written sentiments to customers.

Happy Father’s Day to all of the dads out there! If you are a printing company looking for the right equipment for your operation, please feel free to reach out to us!

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Our CEO, Vernon Tirey, provided his equipment financing expertise to plastics packaging industry resource, Plastics Today, in an article published last week. Vernon spoke with contributor, Clare Goldsberry, about alternative financing methods and why equipment financing is an efficient, cost-effective method for businesses across industries to secure the equipment they need to operate.

An excerpt of Vernon’s commentary is as follows:

Equipment financing pretty much works the same across any industry, Tirey explained. “Loans and leases are still available—the structure is available—but the financing rates can vary depending on a variety of factors. First, the type of equipment really matters when it comes to financing. Lenders like to know why you need the equipment; if the equipment is core and critical to the business, the lower the risk to the lender. The useful life of the equipment is also important. After five years of financing, if the equipment holds good value, that significantly lowers the risk for an equipment financing company. The value of used equipment in the secondary market can also have a huge impact on the ability to keep financing rates low for borrowers.”  

Tirey offers another piece of advice: Though most companies financing equipment think most about finding the lowest monthly payments, if the equipment you need will be obsolete in three to five years, consider a lease rather than a loan. “You can keep costs low and return the equipment at the end of the finance period to more easily keep up with technology advances and always have the best equipment available by upgrading. Again, it depends on why you’re buying the equipment. If you’re going to use the equipment for 20 years, with a loan or a $1-out lease, you can use it free for the last 15 years.”

LeaseQ has valuable experience in the food packaging industry to assist businesses looking to secure top-notch equipment without breaking the bank. To read this Plastics Today article in its entirety, please visit: https://www.plasticstoday.com/injection-molding/staying-competitive-requires-state-art-equipment-should-you-buy-or-lease/199276528856913

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anthony schreveName:

Anthony Shreve

Title:

Finance Associate

Where are you from, originally?

Belmont, MA

How did you find LeaseQ?

A friend of mine I’ve known since childhood works at LeaseQ and called me up one day asking if I would consider working in this industry.

What do you like most about working at LeaseQ?

Although the goals are clear and established, the means to achieve them involve creativity, flexibility, adaptability, and innovation. The typical work day is filled with new challenges and interesting developments. This is what makes every day at LeaseQ so exciting!

Any favorite lender/borrower stories worth sharing?

Often, a client calls me after the deal has closed. I find it profoundly satisfying each time I sense their gratitude and know that I have directly contributed to their financial stability.

What’s your dream deal for LeaseQ?

It is always a great opportunity when a customer asks us to help them acquire financing for brand new units. These are significant deals that give us an opportunity to establish lasting relationships with larger companies and to help them acquire units that will still be generating revenue for their businesses for many years to come.

What apps/tech/tools do you use on a daily basis?

Salesforce, Microsoft Excel, and Outlook. Simplicity is key.

Any (other) work or life hacks you’d like to share?

Organization is vital in this line of work. Without it, the workflow becomes needlessly complicated.

Favorite movie ever (independent of IMDB ratings):

My Cousin Vinny. It’s the only movie that makes me laugh every time I watch it!

Favorite activities when you’re outside the office?

I am hopelessly obsessed with the guitar along with blues and rock music. When I’m not flinging strings around by myself or with my bandmates, I can be found with both arms immersed in the engine bay of my souped up hatchback. I’m a huge car nerd!

Fill in the Blank: I’d love to see my coworker Gary Finnegan answer these questions.

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